Giant NFTs marketplace OpenSea is now announced to introduce a new update in its smart contract to bring some better changes for its ecosystem.
OpenSea is a top-ranked NFTs marketplace, where people choose this platform as a priority to trade with crypto NFTs. This platform grabbed huge attention in the last few weeks because of some controversial decisions, while new decisions and changes by OpenSea were an effort of the team to bring better use of the platform by keeping the spammers away.
On 19 February, the OpenSea NFTs platform announced that the new smart contract is now live, so all the platform users needed to shift the NFTs listed on the ETH network to the new smart contract.
Through the announcement, OpneSea confirmed that if any person failed to migrate the NFTs on the new smart contract then users will face gas fees to list on the new smart contract.
“In 1 week, at 2 pm ET on Friday, February 25, any listings you haven’t migrated will expire. If you miss the migration window, you’ll be able to re-list any expired listings without incurring additional fees (including gas fees).”
So with this upgrade, all the NFTs listed on the old smart contract will get out from the platform and if any person will be active then in that situation he will be able to shift to a new one, so this will eliminate the users which have been offline for a long time and they are no longer interested.
OpneSea limitations on free minting tool
In past weeks, OpenSea grabbed huge attention in the crypto Industry because it decided to introduce the limitations on the free NFTs minting tool.
When criticism and hate surged, OpenSea responded and claimed that the majority of the people are only spamming the platform because of free unlimited mint tool access.
These things are hinting that bad actors are now surging in NFTs platforms also to introduce high-level scams or wash sell their crypto funds. The crypto industry will probably see new rules, regulations, and restrictions on the NFTs trade platforms.
Read also: Crypto lender Nexo changes interest policy for US users
